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Greg's Electronics manufactures circuit boards for computer-controlled appliances for the home. The sales have been very volatile, sometimes stressing the plant's capacity, and sometimes depressingly slow. During a recent slow period, Larry Flower, a production supervisor, complained to you, the accounting manager, about the budget. "I try as hard as I can to meet the budget," he says, "and then I find out that just meeting the budget's not good enough. Last month, when production kept up with sales and we sold 8,000 units, I was $10,000 under my budget. Then you all blow me out of the water with your report that I actually was $6,400 over budget because sales, and therefore production, was slow. I thought this responsibility accounting business was supposed to mean we are held accountable just for things we can control. How do we control sales? At the beginning of the year, you gave us all targets. Mine says that for an average month of 10,000 units sales, I should spend about $82,000. I spend less, and get an unfavorable budget report. What gives? Instructions: Write a memo to respond to Mr. Flower.
The Athletic Accountant Company produces exercise equipment for accountants. Its main product, the Pencil-Pusher Push-Up Platform, is sold with a three-year warranty against defects. amount that should have appeared in warranty obligation
J-mart and Buy-Lo are two companies that sell identical products. They are located in different parts of the same city. During September, J-mart sold $25,000 of goods, while Buy-Lo sold $19,000.J-mart's profit was $9,000, and Buy -Lo profit was $3..
beginning inventory in march consisted of 20000 units 60 percent converted and ending inventory consisted of 40000
for each of the following scenarios identify the appropriate reporting opinion by selected matching option from the
Assuming the lawsuit was resolved in February of 2012 (at which time a $200,000 loss was recognized for tax purposes) and that Begal's tax rate is 30 percent for both 2011 and 2012, what amount should Begal report as asset for net deferred income ..
If the dividends on preferred stock are one year in arrears (in addition to the current year), how will the total dividend be divided between the common and preferred stock?
What are the differences among transaction, translation, and economic exposures? Should all of them be ideally reduced to zero?
Violeen Corporation (VC), a private Canadian company with a December 31 year end, applies ASPE in preparing its financial statements.
During 2010, Markel had actual outlay of $48,000 for repairs under warranty. Markel employs the expense warranty accrual method-What amount should the company report for estimated liability under warranties at the end of 2010?
alberta gauge company ltd. a small manufacturing company in calgary alberta manufactures three types of electrical
quik cleaners has been considering the purchase of an industrial dry-cleaning machine. use the following information to
budgetschedulesforamanufacturer.logospecialtiesmanufacturesamongotherthingswoolen blankets for the athletic teams of
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